NEW YORK and LOS ANGELES, Oct. 17, 2019 /PRNewswire/ -- Fox Corporation (Nasdaq: FOXA, FOX) announced today that it has completed its acquisition of 67% of the equity of Credible Labs Inc. (ASX: CDR) effective October 17, 2019. Shares of Credible were suspended from trading on the Australian Stock Exchange (ASX) on October 16, 2019 (AEST) and Credible will be delisted from the ASX on October 18, 2019 (AEST).
The completion of the transaction follows the satisfaction of all customary closing conditions, including approval of the merger by Credible stockholders.
Each Credible CDI holder of record at closing is entitled to receive A$2.21 in cash per CDI, and each holder of common stock in Credible of record at closing is entitled to receive A$55.25 per share.
Kirkland & Ellis LLP and Herbert Smith Freehills served as U.S. and Australian legal counsel, respectively, to Fox Corporation.
About Fox Corporation
Fox Corporation produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News Media, FOX Sports, FOX Entertainment and the FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of our footprint allows us to deliver content that engages and informs audiences, develops deeper consumer relationships and creates more compelling product offerings. FOX maintains an impressive track record of news, sports, and entertainment industry success that will shape our strategy to capitalize on current strengths and invest in new initiatives. For more information about Fox Corporation, please visit www.FoxCorporation.com.
Credible (ARBN: 621 866 813) is a U.S. company based in San Francisco which operates a consumer finance marketplace that helps consumers save money and make better financial decisions. Credible has developed a proprietary technology platform that is integrated with credit bureaus and financial institutions. Credible has developed a differentiated, and personalized user experience that enables consumers to compare instant, accurate pre-qualified rates from multiple financial institutions for student loans, personal loans and mortgages. For more information, please visit: www.credible.com
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